摘要：Over the years, there is phenomenal change in technology and market competition and these are the forms through which the money ownership is transferred from one person to another. Originally a physical substance such as gold and silver or even alive cattle were considered as forms of money. Even though the greater amount of money used by the individuals in their daily transactions is still in the form of coins and notes, but if we compare it with the intangible money that exists only as entries in bank records, it quantity is much smaller. Perhaps banknotes and coins will become as obsolete as cowries shells. This intangible (electronic) money acts as a replacement for cash, where monetary value is stored on a smart card and is used to make daily small payments. Therefore, electronic money has become an essential element and affects our lives in one way or another. This paper investigates the electronic money in two different regimes that is, The United Kingdom and Pakistan. Here the Legal Framework, payment mechanism, permission for issuance, authorization requirements and purse limit of the electronic money in these two countries has been investigated. Prudential and other requirements which are regulating and affecting the electronic money in these regimes have been investigated here. The various restrictions and limitations imposed by the authorities in these regimes on the electronic money firms have been discussed in this paper. Assessments of the Consumer Protection laws in these regimes which are relevant to the electronic money have been touched as well.
